Market Cap BTC Dominance, %Éducation
What can we learn if BTC decouples from ALTs & Dominance drops?
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This last move was important to pay attention to and be aware of whats going on in the markets. Bitcoin has been dominating the landscape for some time and for good reason. It has the most exposure, it has large funds being able to invest in it, etc, etc.... People were creating ways to get into the crypto craze and found ways to do it.
I am not hear to pinpoint on exactly when to get in. I am hear to tell you that if you are sitting on the sidelines mulling around whether or not it's a good time to get in, please consider this chart. I can throw most any major alt coin and the result will be similar as to the eth and ltc comparison. AS BTC dominance drops, the ALT's rose, along with BTC for that matter. If we are going to have a massive alt season 2, this will be the time to get in and HODL. If you are targeting ETH, will it matter if you get in at 150, 200 or even 250 if it goes to $1,200? No, it won't. If you wait for more confirmation, you could possibly miss a large move to the upside. Maybe it goes down more before it goes up, no one knows. If we take a step back for a moment and look at bitcoin dominance we can see what story it is telling. The first and most obvious is that when BTC domiance dropped in 2017 prices started to increase. It's important to notice that this happened MID 2017, but people consider the bull run to happen late 2017 if not the beginning of 2018. But if you invested then you were late. You were showing up to the party as the police were arriving. Not a good time.
The BTC dominance MACD is just about to arc over and cross. RSI is very much oversold. The BTC halvening is approaching next year, there are massive advances in crypto, etc... The decoupling exposed itself this last rally when almost EVERYTHING moved up and BTC stayed flat. Of course everything has corrected a bit, but that is to be expected. There are signs they are decoupling and if so it could be worthwhile to begin to take positions for a move up. Almost EVERY cross (ETH/BTC, LTC/BTC, etc..) are at all time lows, priming the pump for another ALT season. Ask yourself this... If ETH went down to $150 even if you bought at $200, would you be angry at having to ride it out? Or more angry if you hadn't bought at $200 and it moved up to $300, or 500? Make sure you evaluate your plan, whether trading or hodling and know the potential of what is going on. Stay disciplined. Could BTC go down to 7k?Could it drag everything else down with it? Very possible, and it's what I have thought until this latest move. Because what if it decouples from alt's and those stay stable or even move up? As evidenced by the recent moves? Compare the latest ETH chart to BTC. It looks like BTC is moving down and ETH to the upside... It will be quite interesting to see where we go and I hope I provided some insight and help for your positions or trading.
Best of luck trading and hodling
-Sherem
I am not hear to pinpoint on exactly when to get in. I am hear to tell you that if you are sitting on the sidelines mulling around whether or not it's a good time to get in, please consider this chart. I can throw most any major alt coin and the result will be similar as to the eth and ltc comparison. AS BTC dominance drops, the ALT's rose, along with BTC for that matter. If we are going to have a massive alt season 2, this will be the time to get in and HODL. If you are targeting ETH, will it matter if you get in at 150, 200 or even 250 if it goes to $1,200? No, it won't. If you wait for more confirmation, you could possibly miss a large move to the upside. Maybe it goes down more before it goes up, no one knows. If we take a step back for a moment and look at bitcoin dominance we can see what story it is telling. The first and most obvious is that when BTC domiance dropped in 2017 prices started to increase. It's important to notice that this happened MID 2017, but people consider the bull run to happen late 2017 if not the beginning of 2018. But if you invested then you were late. You were showing up to the party as the police were arriving. Not a good time.
The BTC dominance MACD is just about to arc over and cross. RSI is very much oversold. The BTC halvening is approaching next year, there are massive advances in crypto, etc... The decoupling exposed itself this last rally when almost EVERYTHING moved up and BTC stayed flat. Of course everything has corrected a bit, but that is to be expected. There are signs they are decoupling and if so it could be worthwhile to begin to take positions for a move up. Almost EVERY cross (ETH/BTC, LTC/BTC, etc..) are at all time lows, priming the pump for another ALT season. Ask yourself this... If ETH went down to $150 even if you bought at $200, would you be angry at having to ride it out? Or more angry if you hadn't bought at $200 and it moved up to $300, or 500? Make sure you evaluate your plan, whether trading or hodling and know the potential of what is going on. Stay disciplined. Could BTC go down to 7k?Could it drag everything else down with it? Very possible, and it's what I have thought until this latest move. Because what if it decouples from alt's and those stay stable or even move up? As evidenced by the recent moves? Compare the latest ETH chart to BTC. It looks like BTC is moving down and ETH to the upside... It will be quite interesting to see where we go and I hope I provided some insight and help for your positions or trading.
Best of luck trading and hodling
-Sherem
Note
Dominance still dropping. Alt season is around the corner.
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